Up to 23% APR on USDe
8% fixed APR, trade to earn more
What is USDe
USDe, Ethena's digital dollar, maintains stability by delta-hedging Bitcoin, Ethereum, and other governance-approved spot assets through perpetual and deliverable futures contracts, as well as holding liquid stablecoins such as USDC and USDT.
Multi-Asset Collateral
Enable Cross Margin mode to trade any perpetuals with your USDe as collateral.
Frequently asked questions
There are two ways to get USDe on Flipster, you can either mint or deposit.
Mint: You can mint USDe with your existing USDT or USDC. The minimum minting amount is 1,000 and maximum amount is 200,000 (USDT or USDC).
How to Mint USDe
Select “USDe” → Click "Mint"
Enter the amount of USDe to mint with USDT or USDC
Review transaction details and click “Confirm” to initiate the minting process
Minting transactions typically process in about 30 minutes, though timing may vary based on network conditions. During high network congestion, transactions may take longer.
All quotes for minting on Flipster include both the 0.07% service fee and variable gas costs based on network conditions.
Deposit: If you already have USDe in an external wallet, you can deposit it to your Flipster account.
How to Deposit USDe
Go to “Assets” → Select "Deposit"
Choose USDe. Next, copy the deposit address or scan the QR code.
Paste the deposit address in your external wallet to complete the transaction
One of the key advantages of USDe Earn on Flipster is the ability to simultaneously trade and earn.
Select Cross Margin mode to use USDe alongside other supported assets as multi-asset collateral, while your APR rewards continue to accrue.
This dual functionality allows you to maximize the capital efficiency of your funds for greater control and flexibility.
How to trade while you earn
Go to the order form and switch to “Cross Margin”
Trade any perpetuals using USDe as collateral.
Earn APR rewards while trading at the same time. View your APR rewards in the Earn history.
Earn up to 23% APR on your USDe simply by holding, or increase your trading activity to earn more rewards.
Your daily earnings are based on the average wallet balance of USDe, measured from 24 random snapshots taken between 00:00 and 23:59 UTC. You can monitor your APR rewards from USDe in the Earn history.
The fixed APR is 8% for balances of up to 200K*. Any amount above that earns a variable rate based on Ethena’s weekly floating rate. The 200K limit is shared across USDe (converted to USDT), USDT in Premium Earn, and USDT in Basic Earn, in order of priority.
Fixed 8% APR (*An overall cap may apply)
Base APR (Ethena): Variable, updated weekly (No limit)
Extra APR (Flipster): Variable, provided when Ethena's base rate is below 8% (200K limit)
Up to 15% Trading Bonus APR (200K limit)
Example A:
When Ethena's base APR is below 8%, Flipster supplements the difference to guarantee a minimum 8% fixed APR for USDe holders:
Base APR (Ethena): 2%
Extra APR (Flipster): 6%
Total APR: 8% (Fixed)
Example B:
The balance limit is 200,000 USDT and you hold 50,000 USDe:
The 8% APR applies to your 50,000 USDe first.
The remaining balance limit applies to your USDT holdings:
Remaining balance limit for USDT = 200,000 − (50,000 × USDT/USDe conversion rate)
Increase your trading activity to enjoy additional Trading Bonus APR of up to 15%.
The more you trade (30-day volume in USDT), the higher your Trading Bonus APR.
Your tier in the table below determines the balance limit for Trading Bonus APR, based on your 30-day trading volume. The balance limit is the amount that qualifies for Trading Bonus APR, and is shared for USDT and USDe. It applies first to USDe, then to USDT in Premium Earn, and finally to USDT in basic Earn.
30-Day Volume (USDT) | Balance Limit (USDT) | Trading Bonus APR |
250,000 | 5,000 | 6% |
500,000 | 10,000 | 6% |
1,000,000 | 20,000 | 6% |
1,800,000 | 30,000 | 8% |
2,400,000 | 40,000 | 8% |
4,000,000 | 50,000 | 8% |
8,000,000 | 100,000 | 15% |
20,000,000 | 200,000 | 15% |
Example:
If your Trading Bonus APR balance limit is 10,000 USDT and you hold 2,000 USDe:
The Trading Bonus APR applies to your 2,000 USDe first.
The remaining balance limit applies to your USDT holdings:
Remaining balance limit for USDT = 10,000 − (2,000 × USDT/USDe conversion rate)
USDT in Premium Earn is prioritized over Basic Earn
1. By participating in the USDe reward program ( “USDe Rewards”), you have agreed to be bound to these terms as well as the Flipster Terms of Use and other relevant terms, rules, and guidelines on the Site or the mobile application. In the event of any conflict or inconsistency, the terms herein shall prevail with respect to the program contemplated hereunder unless expressly stated otherwise.
2. The rules of the USDe Rewards are as published on the Site and the mobile application.
3. You agree and acknowledge that Flipster makes no representations or warranties of any kind, express or implied, regarding USDe, its value, stability, or functionality. USDe is a digital asset developed and issued by Ethena BVI Limited and by holding or using USDe, you are subject to their terms and conditions (https://docs.ethena.fi/resources/usde-terms-and-conditions).
4. Participation in any promotion involving USDe is at your own discretion and risk. Flipster shall not be responsible or liable for any loss, damage, or claim arising from or in connection with your use, holding, or transacting with USDe.
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